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CEA Industries has successfully closed a $500 million private placement offering, backed by leading crypto investor YZi Labs, to power its new BNB-focused treasury strategy. The deal, announced August 5, 2025, also includes potential for up to $750 million more through warrant exercises. The company plans to adopt BNB as its primary treasury reserve asset while continuing core operations, positioning itself at the forefront of institutional crypto adoption.
Beginning August 6, CEA will trade under a new ticker symbol “BNC” on Nasdaq, with its warrants under “BNCWW,” reflecting a strategic shift toward the BNB Chain ecosystem. CEO David Namdar, co-founder of Galaxy Digital and Senior Partner at 10X Capital, called the rebranding a key step in building a secure and transparent crypto investment vehicle. Russell Read, former CalPERS CIO, will step in as CIO. Outgoing CEO Tony McDonald will continue as President and board member.
Over 140 investors joined the raise, including Pantera Capital, GSR, and Rajeev Misra’s family office. 10X Capital will manage the BNB treasury strategy in collaboration with YZi Labs.
